Automation Solutions Market Size, Share, Trends and Growth to 2020

Technavio Announces the Publication of its Research Report Global Automation Solutions Market in Power Industry 2016-2020

Technavio recognizes the following companies as the key players in the global automation solutions market in power industry: ABB, Honeywell, Emerson Electric, Schneider Electric, and Siemens.

Other Prominent Vendors in the market are: FANUC, GE, Hitachi, IDEC, Koyo Electronics, Mitsubishi Electric, Omron, Parsec Automation, and Yokogawa.

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Commenting on the report, an analyst from Technavios team said: Automation solutions in cloud is one of the recent trends gaining traction in the market. Automation solutions in the cloud are likely to be a next logical step in the evolution of automation technology in process industries. Power companies can significantly reduce costs, achieve greater flexibility, and enhance functionality by shifting toward cloud-based environments. A cloud-based architecture shifts the task of displaying and maintaining data from the end-user to the cloud-service provider. It eliminates expenses related to the hardware layer of IT infrastructure of automation solutions such as MES and SCADA. It enables users to view data on devices such as tablets and smartphones, and also through email and text messages.”

According to the report, compliance with stringent government regulations is a key driver propelling this markets growth prospects. Power companies worldwide are looking at automation as an effective means to comply with stringent regulations in their geography and deal with the increased scrutiny of regulatory bodies. Regulatory authorities, especially in Europe and North America, have initiated strict regulations to reduce the carbon dioxide emissions from process industries such as power. Power generation, especially by thermal power plants, results in the emission...